JULY 7, 2016 — In a stock exchange announcement today, Keppel Corporation Limited reported that KS Investments Pte Ltd, a wholly-owned subsidiary of Keppel Offshore & Marine Ltd, has entered into a shareholders agreement with Shell Eastern Petroleum (Pte.) Ltd., a wholly-owned subsidiary of Royal Dutch Shell plc, for the formation of a Singapore incorporated joint venture company.
Keppel and Shell will each have a 50% share in the JV, which will establish an LNG bunkering business in Singapore. Its principal business activities will be to supply LNG bunkering operations services in Singapore to ships and any other marine vessels in the Singapore port and other related services.
Singapore issued its first LNG bunkering licenses in January of this year. Singapore's MPA (Maritime & Port Authority) sees LNG playing an important role in Singapore's services as the world's largest bunkering port.